Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
AUD/USD Technical Analysis: Two-Year Uptrend Threatened

AUD/USD Technical Analysis: Two-Year Uptrend Threatened

Ilya Spivak, Head Strategist, APAC

AUD/USD Technical Strategy: Flat

  • Attempted Australian Dollar rebound fizzles, channel floor back in focus
  • Breaking below immediate support exposes key two-year rising trend line
  • Waiting for improved risk/reward parameters to enter AUD/USD position

Sellers are pressuring the Australian Dollar toward trend-defining support that has guided the currency higher against its US counterpart for over two years. A bounce in the wake of the Fed policy announcement was aborted by disappointing jobs data and risk aversion after the US slapped China with punitive tariffs.

From here, a daily close below the 0.7665-76 area (channel floor, 23.6% Fibonacci expansion) opens the door to challenge 0.7608 (trend line from January 2016, 38.2% level). Alternatively, a turn back above the March 22 high at 0.7785 paves the way for a test of channel top resistance at 0.7894.

Prices are too close to immediate support to justify entering short from a risk/reward perspective. Taking up the long side looks premature absent a defined bullish reversal signal however. With that in mind, opting to stand aside until a better-defined opportunity presents itself seems most prudent for now.

Build confidence in your own AUD/USD strategy with the help of our free guide!

AUD/USD Technical Analysis: Two-Year Uptrend Threatened


--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivakon Twitter

To receive Ilya's analysis directly via email, please SIGN UP HERE

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.